An EU energy crunch is in progress as Russian gas supplies going to the bloc are diminished, as technical reasons are the cause. Specifically mentioned as the cause is a second Nord Stream 1 pumping turbine that was discussed earlier by Russia.
Pipeline Problems Threaten the EU Gas Supply
German gas network operator Gascade stated on Wednesday that gas supplies through the Nord Stream 1 pipeline from Russia to Germany had been significantly cut to one-fifth of maximum capacity, reported RT.
According to a statement made by a German firm on Wednesday morning, NS1 has been used to pump through the pipeline around 20% of its maximum capacity of 1.28 million cubic meters per hour. Due to the requirement for maintenance of the gas pumping equipment, Gazprom gave advanced notice of the impending shutdown of a second Siemens turbine.
The Russian gas company stated on Tuesday that the Nord Stream 1 pipeline supply would not be more than 33 million cubic meters per day following the switch off.
Gas prices in Europe increased by more than 20% on Wednesday to the highest levels since March, reaching over $2,500 per thousand cubic meters due to the decline in Russian gas supplies ending in an EU energy crunch.
This follows a disagreement over a Siemens turbine that was brought to Canada for repairs but was delayed in returning because of Ottawa's sanctions against Moscow, noted Azerbaycan 24.
According to Gazprom, the delay was the cause of a 60% drop in the gas flow to Germany last month. The item is now in Germany and will soon be delivered to Russia.
Earlier information from business newspaper Kommersant said that the Portovaya compressor station's numerous turbines need maintenance. Siemens Energy is permitted by the present license agreement to accept five more turbines for regular maintenance before the end of 2024, citing Mass News.
Gas Price Continues To Increase With Reduced Supply
Confirmation that, as winter approaches in general, Nord Stream 1 (NS1) is operating at a critical 20% of its maximum capacity. The last time prices were thus high as of March 1 was for the technical reasons mentioned last Wednesday.
The cost of living in the Netherlands on the morning when August futures were posted on the TTF trading hub had marginally surpassed $2,500 per thousand cubic meters, or €235 ($239) per megawatt hour.
Following the verification by the German company Gascade, which depends on Russia for its NS1 natural gas supply, the drop has affected the economies of Germany and the EU.
Last Monday, Gazprom stated that to keep the pipeline operating continuously, it would be necessary to shut down parts like turbines that needed repair.
Last Wednesday, it was made very obvious that a prior cut of 60% would follow, as guaranteed by Gazprom. All this was brought on by the US and its allies' thoughtless sanctions, tantamount to economic self-destruction. Another reason Canada kept it after repairs were because of sanctions.
Low supplies hurt the EU, especially in member states like Berlin, whose heating is most needed. Moscow's response is vital as winter approaches. Since January 1, prices have escalated continuously.
The EU energy crunch comes as the Nord Stream 1 has only a meager 20% of Russian gas supplies threatening to take down the EU, going along with US sanctions.
